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if only the expiration of the george w. bush tax cuts and this gives congress the opportunity to give it away and they can honestly say we're voting to cut taxes and the feeling is that might make it easier for the congress to deal with this. david jackson, usa today, we'll see you later in the hour, as well. >>> bungee jumping, going down a bunny slope. not talking about adventure sports. these are the scenarios that people are scribing when it comes it the fiscal disaster that congress is trying to avoid. a congressman joins me with his alternative view on it all next. then, what's truly happening behind closed doors in negotiations between leaders right now. two former wheelers and dealers from capitol hill will give me their take as well. you are watching msnbc, the place for politics, even on a snowy saturday afternoon. ♪ ♪ [ laughter ] smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit o
spending cuts and tax increases, but month after month after month, congress has been unable to cut a deal to avoid them. how absurd is this? so absurd the president is quoting yogi berra to describe it. >> this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything has to wait until the last minute. we're now at the last minute. >> reporter: the president spoke after a meeting where republican and democratic senate leaders agreed to try to find a solution. >> we're out of town. we've got to do it now. the next 24 hours will be very important. >> reporter: a rare phrase these days, bipartisan effort. >> in the hopes that we can come forward as early as sunday and have a recommendation. >> reporter: but if they don't. >> then i will urge senator reed to bring to the floor a basic package for an up and down vote. >> reporter: a backup plan likely to include tax increase only for the wealthy and extension of unemployment benefits for 2 million jobless americans. >> if members of the house or th
programs will be cut, which will be spared. >> they're waiting for congress. >> thank you. >> the stock market taking lack prof gres badly this, oñ performance over the last five trading. >> the nasdaq down 25 points for the day. s and p off by 15. >> if you're on long term unemploymentik-(é you're really going fall off the fiscal cliff f you try to call the help line, chances are you won't get through to an agent. 84% of calls, 84% are never picked up. >> this is how june spent the last month. listening to auto mated menu autos press three. >> and getting same response. >> we're sorry. the callers waiting to speak to a representative have been reached. >> i heard that recording 8-so times per day for a month. >> just hurts. >> matthews is on disibility for a shoulder injury. wants to know the status of the claim w out a check from the state she could be kicked out of her house. >> for us not to be able to get any help, no communications back, on funds we've paid into a system is aggravating. >> sounds like they got too many phone calls, goodbye. >> dave asked us not to use his last n
leaders fail the president wants congress to vote his plan keeping tax cuts for making $250,000 a year less, extending unemployment benefits for some 2 million people and delaying spending cuts until later this year. white house officials that top senate republican will be a key force in getting a deal after he made these comments. >> we are engaged in discussions majority leader and white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and majority leader can make to his conference. >>> among the issues to be hammered out is income level for extending president bush tax cuts. they send it on $250,000 but it sounds like $400,000 is where negotiations are heading. a leading republican senator says permanent is key giving certainty on tax rates that g.o.p. senators say a permanent solution for the alternative minimum tax that threatens 28 million americans every year would also help win republican voters. >> arthel: i know this is a very serious subject. when you see them all speak, it sounds like wa, wa, wa, wa. t
or so, a delay in those massive spending cuts that congress put into a package a year ago. increase in the estate tax. now, what do republicans want ideally to be included? they'd like to limit the tax increase for high earns, place that threshold somewhere other than $250,000. avoid the estate tax increase, no delay in those spending cuts, and figure out an agreement to pay for the extension of unemployment benefits. no guarantee either side's going to get all or any of what they want. what they're trying to do now is probably whittle out middle ground and see if they can get there. >> lisa, let me ask you this. we've seen a number of the key players, heard from others. but there's someone noticeably absent and that is speaker john boehner. where is he? and has he been benched sort of in this process? >> he was here at the capitol this morning. our producer on capitol hill reports he was meeting with his chief of staff. we don't know the what they were talking about. he was here at the capitol. only he and senator mcconnell have been here today. you know, i think the situation is s
depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they're extended by 2020, the bush-era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job killing tax hikes, and we need to start cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but today the philosophy's main spokesman is this man. grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbid signatories from raising taxes ever under any circumstances. things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a condition for raising the nation
more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they're extended, by 2020, the bush-era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job-killing tax hikes, and we need to start cutting spending now. >> reporter: republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls for government to be as small as possible. now, its roots are as old as american politics. but today the philosophy's main spokesman is this man, grover norquist. president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s.
of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay with us, rich edson. thank you so much for that report. turning now to our guests. it's up to harry reid and mitch mcconnell, the two leaders in the senate. trying to craft something. how likely is it that there would be a bill that passed the senate and house? after all, that is the problem we have had a long. >> well, first, we have not seen any details of this package. we are talking completely off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinstein of california, and 250 will be a big pill to swallow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if you will have these taxes on $250,000 and above. as rich edson said, this is going to be another deadline in congress has to have. i think everyone needs to get comfortable with the fact that we are going to have these kinds of stopgap last-second deals. gerri: okay, let's get t
at all, the least of all congress. they were the ones who extended the bush tax cuts. originally passed back in 20,122,010 and 2012. for two years now, they have known the issue is looming and they chose to do nothing about it at all. but that is not the only thing that this lame-duck congress has to do for the end of the year. the farm bill passed last summer to help farmers hit y the drought has to be extended. into the next year, it must pass. if they do nothing, a gallon of milk go up $6 a gallon. it sure isn't going toelp consumers. then there are restrictions on u.s. exporters, lower tariffs in good deal for them. awaiting the attention of lawmakers and again, they are not even paying any attention. and today, they are threatening to do something with the hurricane sandy relief bill. the hurry up and get it done attitude of small-business owners. a 9-foot wave of flood water hit her store. she has picked up the pieces and opened her doors for business. despite losing all her equipment and furnishings, her insurance denied her claim and she got no help from the government. take a l
both chambers of congress. in assessing the impact of the cuts we relied on the study from george mason university taking a broad look at where the cuts would come. drill down into specifics we call head start program. we called health care centers and laboratories and anybody who would rely on federal money this might be cut and what we were told universally is that nobody really had an idea of which programs would be cut and which programs would be spared. they are all waiting for the word from congress. like the rest of us. 7 news. >> and we wait. warning tonight from pg&e. utility is sending out tweet right now warning people that a man with hispanic accent is calling senior citizens and ease telling them the service will be cut off unless they provide credit card or gift card information pg&e tells us it's a scam. utility will never ask for that kind of personal information over the phone and they want anyone who has been targeted to contact police medley to rundown who this person is. >> some call long overdue system for alerting the california public about missing sen
-- overly long answer -- to bring more attention to these problems. right now congress will be debating cuts in the health program and in this time of austerity weekend be dumb and cut things that provide long-term benefits that our investments in us in our society. federally as well as our actions. >> you are speaking in your forward about actions -- we talk in this book about small actions people take that can help homeless young people. can you talk about how that works in the city? >> i have had lots of conversations with people who were in tough times, famous people like tyler perry who was homeless and living in a car, to people i know throughout my community who have dealt with brutal hatred because they came out of the closet at a young age. all these stories is amazing to me that all these people, stories about how young person, one small act of kindness was a differencemaker for the amended gives me chills to think we all have that power. the biggest thing we do in any day could be a small act of kindness for someone else. the vulnerability, the fragility of life, in cities like ou
congress reaches, it will be a big tax cut. but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has done here is a debacle for the republicans. and the white house, they've just been sitting back the last week or so and letting it happen. but today, they gave us their plan going forward. you could call it deal and jam. >> i'm optimistic we may still be able to reach an agreement that could pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreemen
as $35 billion in cuts. if the bill doesn't make it through congress before the end of the year, the government will be forced to find vast qualities of milk under the trueman era law and that could send consumer milk prices as high as $6 to $8 a gallon because the government would be obligated to pay twice the wholesale rate under the 1949 rule. the farmers would sell their milk to the government first and prompting a shortage in commercial supplies spiking the price consumers pay. >> the farm bill is like the low-hanging ornament on the congressional christmas tree that if they just embrace it, they can automatically come up with tips of billions of dollars in budget savings. >> reporter: the problem is the bill's stuck in the house and there appears to be no political will to move it forward. agriculture secretary tom vilsack said as a precaution, his department is preparing for the laws to take affect. >> this is a bad outcome. let me be very clear about this. i don't think we should want nor should congress consider it a good outcome. >> reporter: it's not just the cows goi
ticking it would delay dramatic spending cut until later next year. >> i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. >> reporter: after the meeting the president came into the briefing room and told reporters constructive but added he was only modestly optimistic that a deal can be reached by the deadline, a sign that there's a very real possibility we're going off the fiscal cliff. at the white house ed henry, fox news. >>> to the edge in virginia now, a spokesperson for idaho republican senator michael crapo says he will not fight his dui charges. senator crapo got pulled over saturday in alexandria. police say he ran a red light. the senator reportedly registered a blood alcohol level of .11. the legal limit in virginia is .08. sources say the senator consulted an attorney. he is due in court january 4th. >>> the edge on d.c. tonight where a bank robbery susp
to have any patience for a politically self-inflicted wound to our economy. >> harris: if congress cannot work out a deal, tax hikes, spending cuts will take effect on tuesday of next week. president obama says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this ultimatum from the president. >> that's right, harris. it was a dramatic exchange. what i'm told by a senior white house official is that the president basically told john boehner and mitch mcconnell the republican leaders in the room here for this meeting that he wants an up or down vote on his scaled back bill to try to avoid this fiscal cliff. and he basically turned on them and said so what's your response? what's your move? the next move is yours. and then i'm told that mitch mcconnell and harry reid, the democratic leader in the senate jumped in before john boehner really got a chance to fully respond and say, look
and republicans have resisted. if senate leaders cannot strike a deal, the president wants congress to vote on what would be plan c. it would focus on three key areas, keeping tax cuts for those making $250,000 or less. extending unemployment benefits and delay dramatic spending cuts until late next year. top senate republicans sound hopeful a deal can be reached. >> we are engaged in discussions, majority leader and myself, and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> among the issues to be hammered out shall the threshold for extending the push tax cuts and president obama campaigned and sounds like, 400,000 may be where they're heading. a leader says that permanency is key, and fixing the death tax and a permanent solution for the alternative minimum tax which threatens 28 million americans every year, would also help win republican support, heather. >> mike emanuel reporting from washington with the latest, thank you, mike. >> kelly: heather a
now. to be real clear about it. this is a time bomb that congress set. nobody wants to see frustration cuts. but that's the stick they put to their own head as a way of compelling a deal to get done. and a deal doesn't get done. we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> my legs. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. >>> and police in new york city are searching for a woman who pushed a man to his death in front of an oncomi
to bring anything to congress until it is passed by the house. those tax cuts are expected to expire house speaker john boehner does not want to bring anything until it is passed by the house. >> these everyday workers are going to be paying the price for all of not being able to get anything done. >> catherine: after a break in the rain.yet another round is this is a live look at conditions in san on van ness avenue. i'm in the weather center with jacqueline - who has been tracking this latest >> jacqueline: it has been a bit deceiving. but we are finally seeing rain hit the coast. half moon bay in the last one hour and a san francisco probably seen some sprinkles right now as well. let us to track some of these rainfall totals. not all of this is hitting the ground. there are pockets of yellow is indicating the rainfall in excess of 1 tenths per hour. we could it just see light sprinkles. as we go towards half moon bay. the rainfall totals and of and down the coast as this system continues to process along the coast. light rain towards richmond, berkeley. but one hour before things get s
that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate members. if they can do that the voting begins. there is some progress report this evening, though there are no guarantees. congress will act to resolve this. tom: this sounds a little bit like bob woodward's book to by bob woodward's book when he talked about the debt ceiling fight back in 2011. mcconnell, from the way i read it, mcconnell and reid took it away from the
and congress. $500 billion in combined tax increases and spending cuts set to begin next week. if we go over the cliff, the payroll tax will be affected. >> thanks for having me. the payroll tax is one of the components of the fiscal cliff. as the article points out, most of the discussions back-and- forth have not involved extending that. what that means is that come the first paycheck in january, federal withholding for social security will increase in take- home pay will drop >. >> for what you have seen and heard of the negotiations, on what other items are you most concerned about regarding how going over the cliff is going to affect the average american? >> most of the discussion thus far has focused on the individual income tax provisions that for the most part have been in effect for the past 10 years or so. one aspect of the fiscal cliff is not actually about 2013 taxes, but is still left over business from 2012. most importantly, that is congress has not yet enacted its annual fixed to the alternative minimum tax for this year, yet. if no action is taken, a lot of people probably h
brings one that is a real doozy, billions in tax increases and across-the-board spending cuts take effect. it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could
and congress to make a deal and avoid those automatic tax hikes and spending cuts. obama met with top leaders from the both sides of the aisle in a rare meeting that lasted over an hour. afterward, he spoke about the importance of the deal for the u.s.'s still recovering economy. >> economists, business leaders, all think we're poised to grow in 2013. as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> senate minority leader mitch mcconnell also spoke after their meeting expressing home that the weekend would bring a deal. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation i can make to my conference and the majority leader can make to his conference. and we'll be working hard to try to see if we can get there in the next 24 hours. i'm hopeful and optimistic. >> we're watching that story closely. >>> protesters demanding justice for the young woman who has died now after she was brutally beaten and gang raped on a bus
, i can do it in two years. that's $1,000 a month. is that even possible? if so, act like congress. raise revenues and reduce spending. so this is what we're going to cut out of our budget, and this is how i'm going to take that extra part-time job or whatever it takes to make that money. >> amy, how do you characterize the market right now? it's in recovery but nowhere near where it was in 2007 and 2008? >> that's right. it really varies by market, in most places across the u.s., the housing market bottomed, but this is a long and slow slog to recovery. our economists predict over the next year across nationwide, home values are only going to rise about 2.5%. it is going to take years and years for us to get back where home values were in most places at the peak. for people thinking about buying, you do have some time to take advantage of these low prices. >> all right. and i know we've been -- wow. profiled people who were financed a couple of times, looking at it again with low mortgage rates. thanks. >>> and most homes and investments are made possible by paychecks. up next, th
, which is a nonpartisan scorekeeper for congress. they found if you let those bush tax cuts on high-income folks expire at that level it would not boost the economy -- or rather it would boost the economy almost as much as if you let everybody's bush tax cuts stay in place. in other words, there's little difference in how much you would help the economy if you let those bush tax cuts stay in place for everyone or let them stay in place for most people. in that sense, it sounds like it wouldn't have a huge effect on the economic recovery. having said that, i think if you asked most economists and tax experts, all things being equal, is it better to have higher or lower rates, they'd say lower rates but all things aren't equal. there is no objective level of what is too high. and there are different factors that go into economic growth. it will really depend on what else congress does with its tax and spending policies. not just the short answer. >> you sort of backed into this and said -- you're answering my question in the reverse by saying it's not clear that increasing the taxes o
of the pork in it? those congress -- does congress need to start cutting the extra pork out of their budgets? guest: i do not think the house will pass the measure with all the spending. it is tough to say right now. the reason a lot of this pork is in the bill is to pass it in the senate. it is not coincidental there is money that goes to alaska. it is not coincidental there is money for mississippi in the gulf coast region and the gulf coast and those senators voted for the bill. it is easy to say that is pork spending. to get it through, sometimes they have to make this compromises. it is part of being effective in the senate and house, making those deals. the amount of spending for non- sandy-related things is small. host: jane is from new york on the line for republicans. caller: what should be done? why not have the national guard ready for these crises at home in the united states? have the military separate for what goes overseas. years ago, it used to be somewhat like that. the military was the military. the national guard should be used for crisis in the country. host: any money in
have 920 billion to cut in spending. we face this fight with a new congress, right? >> yeah. this would be another can-kicking exercise. it would also likely or possibly include any type of spending reform or tax reform to be continued through next year. adam: there's the president. rich, thank you. >> for the past couple of months i've been working with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for m
of what they want. he said if congress can't reach a deal. congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we are engaged in discussions with the majority, the leader and myself in hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. we will make hard so this will be able to work in the next 24 hours. i am hopeful and optimistic. >> senate leaders want to reach a compromise on the senate, just what the four hours before the deadline. despite this, it sent stocks sliding. >> michael, we have been hearing this same song and dance for weeks. what do you think? " >> i
obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by monday. that is just two days before 6 under billion dollars of automatic tax hikes and spending cuts begin to take effect -- $600 billion of automatic tax hikes and spending cuts take effect. >> we want to make sure that unemployment insurance is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not like it, some people will like it les
mantle himself. let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. sir, have you conceded you're not getting spending cuts are you voting on raises taxes on people who make over $250,000 come sunday or monday, whatever it is? >> sequestration is a debt ceiling deal from last year. we made a deal and the president and the house and the senate all signed off on it and said we would reduce $1.2 trillion. 120 billion a year and that's the minimum that has to be cut just to fulfill what we had agreed upon last year. the real issue here is spending. we're spending $1 trillion more a year than we were just five years ago. so you're not going fix it with a few tax increases. you have to fix it. >> are you optimistic that something will happen by monday based on what you've heard from the president tonight? >> this is a senate issue and it's optimistic that mcconnell and reid will be able to sit down and talk through and be able to find a proposal and reid has been able to cram this the whole time that he's sitting down with mcc
of the 112 congress, their belief is they are doing precisely what the people who elected them did, which is rolled back obama initiatives, cut spending. a lot that the debt ceiling should not be increased under a circumstances where they feel like i was a failure. but they basically believe their job is first to obstruct barack obama and once there is a republican president in place to pass this initiatives that create better business climate. more and more deregulation committee funding of programs that have never quite been near and dear to them. i think they do believe -- of course to fast-forward a bit about the debt ceiling fiasco of 2011, but after the summer we were taken to the brink of a fiscal cliff, one we are about to see it it can come in to thinking part of the house republican leadership was maybe her tea party freshman will go home, get yelled at by constituents and they'll realize this compromise is not such a bad thing. the opposite occurred. he went home and people go to town halls tend to be the activists of their party and those people tend to be tea party and everyo
cuts? so people are a little smarter than that. and a lot of members of congress are wary. so if they get democrats to vote for this, that's going to be a bipartisan deal they can all hang their hats on. but does it achieve the long-term reform the president and a lot of conservative republicans say they're looking to see in government? >> i'm really glad you said that. david she hit on something important. you can't avoid this debate. it's everywhere. but she just suggested we're not going to fall for that. you're not going to fool us. you're not going to come back and say we went off the cliff and now we're voting for taxes. we're not going to fall for that. so who is going to come out if there is a deal before january 1? who's going to come out looking into this? is anybody? who's going to come out looking bad or worse than bad? >> a couple of thimgs things, t.j. i think it depend on what the ultimate deal is and where that line for threshold on tax increases is. looking ahead to the 2014 election, some of the republicans who might have to vote in favor of this do fear a ch
, and they trust us, we'll get to the spending cuts later on, let's not worry about that right now. the last thing we want to see is a weak-need congress and a weak-willed president patting themselves on the back because they have some watered down deal. i think they need to feel some pain, i think they need to see he the implications in the markets, in the economy, so, yes, i think no deal right now is better than a bad deal. >> okay, gary b, jim mentioned the market, let me play wall street on tv. basically i'm sick of this. i'm going to keep heading south because the uncertainty, the anxiety is killing me. if we had any kind of deal, at least we might see stocks move up a bit. that would be good for our 401(k)'s, wouldn't it? >> that's exactly my perspective, brenda. this was a really rough week on the market and it's all related to, not the-- not the fiscal cliff, it's the psychology of the fiscal cliff, and the sad truth is whether they do a deal now or they thoughtfully do a deal six months from now, really, nothing will be accomplished. the fact is, public debt is consuming our economy. it'
three days away from falling over the edge and seeing massive tax hikes and spending cuts that would go into effect. today president obama called on congress to agree on a compromise plan to protect the middle class. >>> the woman who went to prison for murdering the scarsdale diet doctor in 1990 has herself died. jean harris was 89. she was the doctor's longtime lover. he developed the famous fad, the diet in the 1980s, and harris said she found him treated on her and tried to commit suicide in front of him. they wrestled over a gun and he was shot. >>> former president george h.w. bush is getting better. he is reportedly singing with doctors and nurses in the houston hospital where he is at, although he is still in the intensive care unit. the senior bush has been in the hospital now for more than a month, but his family says that they are confident that he'll be out or released soon. >>> a cancer diagnosis didn't stop one man. in fact, at 79, it is spurring him on to achieve new goal as a marathon runner. >>> plus, no more nudity in san francisco. at least not in public. it is one of
, are we going to see bush tax cuts continue for people who are richer than $250,000 and, you know, the republicans in congress, as you recall, last week, they said that they will not vote a tax increase, even on millionaires. house republicans have been among the worst in terms of this paralysis. i don't remember, for example, when you have a reauthorization of the violence against women act, i mean, thing that has had bipartisan support in previous years, you can't even get that through this congress. i mean, they had 30 votes in the house to repeal obama care. these are republican votes, john boehner kind of presided, and, obviously, they were going nowhere. but you have republicans over and over again, simply holding symbolic votes to make a point, and then when it comes to real votes, they simply say, no. the tea partiers who were elected in 2010, really have had their way. and the one distinction we see, coming out of that 2010 election and the tea partiers and what they did, is to have a congress that is absolutely at loggerheads and gridlock and is incapable of functioning.
violated. so why exactly does congress want to kill it? well, actually, that's hard to say. folks like these who have in the past voted to cut the oce budget or limit its powers refused to talk to us. for those who would talk, opinions were mixed. >> i think it's important there be some way for the public, for someone outside of congress to raise issues about the conduct of members of congress. one of the things that -- is it oce, oce has sent to the ethics committee was actually pretty flimsy. >> i supported it the first time, i'll support it again. >> i don't think it's working well. >> is there anything oce has done specifically that might have rubbed the congress the wrong way to the point where they wouldn't want to get it going again? >> well, in fact, nearly everything the oce does has rubbed the entire congress the wrong way. and in large part, that's because congress doesn't want to hold anybody accountable for ethics violations. >> former congressman lee hamilton is a respected member from indiana who served more than 30 years and helped chair the famous 9/11 commission. he s
before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconne
'm jeff glor. it is the end of a holiday week, holit would appear congress is get getting started. tonight, the president said he es modestly optimistic about a deal to avoid the fiscal cliff, which would mean avoiding automatic tax increases and spending cuts come january 1. the president spoke to the nation this evening after an hourlong meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxes. wo have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight arat were not clear this morning: progress is real, and if a deal is reached, it will be ir smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not be the so- called grand bargain with trillions of dollars of deficit lionction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the
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